With the rise of Airbnb, the rent market has seen a dramatic rise.
The city of Melbourne has become a hub for accommodation listings, with listings now sitting at 1,800 listings on Airbnb.
While the number of listings on the site has increased by nearly 400 per cent, many of the listings are from luxury properties with luxury amenities.
While prices in Melbourne have not gone up by much, there are still some significant price hikes.
Here are a few of the most expensive apartments in Melbourne.
What you need to know about Melbourne’s rent pricesThe rental market is also facing the biggest rent increase in Melbourne’s history.
In February 2017, the Reserve Bank of Australia lowered the Reserve Banks rent target from $1,700 a week to $1.50.
However, the number and average rents in Melbourne are still significantly higher than in other major cities such as Sydney, Brisbane and Melbourne.
There are also many more expensive apartments than the $1k mark, with some units costing as much as $10,000 a week.
There’s also a lot more rent in some areas than in others.
For example, in the CBD, the median price is $1 million, but in the inner-north it is $2 million.
In Sydney, the cheapest apartment is the $2.5m flat at the Eastwood Place, while the cheapest unit is at the $7.5 million $3.5-million flat at Eastwood Park.
For more apartments, see our guide to renting in Melbourne